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will officially re-sign from his post on friday. he stressed that italy's next government must avoid backtracking on reforms. elections are due to return in january. sylvia berlusconi met up with cnbc and began by asking him whether he will be running in the upcoming elections. >> translator: yes. obviously, this wasn't my original intention or a desirable option. i had to surrender to reality. and my sense of responsibility convinced me to run again for a premiership. actually, this need come from the polls. a angelino alfamo is capable, but only my participation would have brought back all the voters who supported us in 2008 which represented almost 40% of the total of italian voters. i had to admit what the data was saying as i did in 2004. i feel the need to return to the political arena to prevent the country from being delivered into the hands of a leftist party that isn't at all social democratic, but has its roots firmly pointed in the communist orthodox party. >> under market and in europe, there is some concern that your return in politics may bring back italy to the latest borrow of 20
thing the next government needs to do is actually nothing. if it does nothing, if it doesn't reverse the reforms -- >> what's interesting is what berlusconi is campaigning on is austerity. he's running on an ant anti-austerity pro eu package. while it's untenable, it does have a certain amount of certainly backtracking the fiscal returns for them. >> exactly. this property tax, i think that's a cause for concern. if you were to repeal that, the fiscal position on would be unsustainable and he would have to raise taxes elsewhere to make up for that. that would be some messy negotiations with him on a european level. markets would be very concerned already heading into the elections. the more noise we hear, the higher italian borrowing costs would be and if italian borrowing costs rise, one of the very important parameters which led to this drop in debt to gdp over these 15 years heading into the crisis would not be fulfilled any more and italy's position would be unsustainable because of all that noise. >> it sounds like a catalyst should this fall into place in 2013. that still remai
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